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On 1 January 2017, a machine was bought at a cost of $33,000. The machine is to be depreciated at 20% per annum using the reducing balance method. The net book value of the machine as of 31 December 2019 will be: a. $19,800 b. $16,896 c. $21,120 d. $13,200

On 1 January 2017, a machine was bought at a cost of $33,000. The machine is to be depreciated at 20% per annum using the reducing balance method. The net book value of the machine as of 31 December 2019 will be: a. $19,800 b. $16,896 c. $21,120 d. $13,200

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On 1 January 2017, a machine was bought at a cost of $33,000. The machine is to be depreciated at 20% per annum using the reducing balance method. The net book value of the machine as of 31 December 2019 will be: a. $19,800 b. $16,896 c. $21,120 d. $13,200
Transcribed Image Text:On 1 January 2017, a machine was bought at a cost of $33,000. The machine is to be depreciated at 20% per annum using the reducing balance method. The net book value of the machine as of 31 December 2019 will be: a. $19,800 b. $16,896 c. $21,120 d. $13,200
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